AI and Generative AI in Finance - Driving Efficiency and Reducing Risk
Description
This immersive workshop explores how AI and Generative AI are transforming finance, focusing on automation, risk reduction, and optimized financial operations. Participants will gain insights into AI’s role in financial reporting, fraud detection, and forecasting. Through hands-on activities, group collaboration, and real-world case studies, they’ll experiment with AI tools, design AI-powered solutions for financial challenges, and develop actionable strategies for AI implementation in their finance roles. Concluding with a guided action plan, this workshop equips finance professionals to leverage AI for smarter decision-making and greater operational resilience.
Workshop Program Structure
Total Duration – 5 hours
1. Welcome and Introduction
○ Description - Brief introduction of the workshop objectives, facilitator, and participants.
○ Activity - Icebreaker activity where participants share one area in finance where they see potential for AI/Gen AI application. (Use Mentimeter or yellow chits)2. Understanding AI and Generative AI Technologies in Finance
○ Description - Overview of AI, Machine Learning, and Generative AI with a focus on finance applications.
○ Topics Covered -
■ AI vs. Generative AI
■ AI’s role in financial forecasting, fraud detection, and reporting
■ Key finance processes where AI is making an impact (Financial Reporting, Risk Management, Auditing, etc.)
■ Examples of Generative AI solutions in finance
■ Examples of AI-powered tools for financial operations
○ Activities: Q&A Session: Open floor for participant questions.3. Hands-On Activity - AI Tools for Financial Reporting and Risk Management
○ Demo - Open AI Playground, creating your own GPTs, prompt engineering, and exploring AI tools for financial data analysis and reporting.
○ Description - Participants explore AI tools and platforms for automating financial reporting, reconciliation, and fraud detection.
○ Activities - Hands-on exercise where participants work in pairs to experiment with tools and evaluate their potential in financial operations.4. Group Activity - Designing an AI-Powered Finance Solution
○ Description - Collaborative group work to design an AI solution for a specific finance challenge.
○ Demo - Introduction to AI tools (e.g., financial data analytics, fraud detection models, cash flow forecasting).
○ Activity -
■ Divide participants into small groups.
■ Each group selects a finance challenge (e.g., automating financial reporting, improving risk management, or fraud detection).
■ Groups brainstorm and create a brief outline of an AI-powered solution, including key features and expected outcomes.5. Deep Dive - Generative AI Use Cases in Finance - Develop Your Pilot
○ Description - In-depth session on specific use cases of Generative AI in finance, calculate ROI, and prioritize projects.
○ Activities -
■ Case Studies: Review real-world examples of Generative AI in finance.
■ Discussion - How to conduct a step-by-step prioritization process for your pilot project.6. Deep Dive - AI/Generative AI Capability Development and Change Management
○ Description - Explore the AI change management process and how to build AI capabilities in finance teams.
○ Activities -
■ List the current challenges in finance that hinder AI adoption.
■ Brainstorm strategies to overcome those barriers and accelerate AI implementation.7. Conclusion and Next Steps
○ Description - Recap of key learnings, Q&A, and discussion on how to implement AI and Gen AI in finance.
○ Activities -
■ Action Plan - Participants write down three actionable steps they will take to integrate AI in their finance roles.
■ Feedback Survey - Collect feedback for future workshops.